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Mururani Ltd is company listed in NSX (Namibia Stock Exchange) provides you with this information from their Accounting records as at 1 May 2020: 1, 250 000 200,000 55,000 25,000 250 000 ordinary share capital at N$5,00 100 000 Cumulative preference share capital at N$2,00 Share premium Capital redemption reserve fund Revaluation surplus Asset replacement reserve Retained earnings Income tax (refund) 280,000 100.000 800,000 15.000 The board of directors of Mururani Ltd have proposed an aggressive strategic plan to expand the business operations. To finance this strategy the board on 1 June 2020 dedded to raise capital using the following means: 1. 10%, 50 000 debentures of N$100 each was offered at a premium of 5% payable in full on application. The debenture premium is to be amortised over the life of the debentures using the effective interest rate method at 9,22425 2. The company issued 100 000 ordinary shares at N$5.00 each at a premium of 50c YOU ARE REQUIRED TO: 1. Prepare the journal of Mururani Ltd to effect the above transactions. (Narrations are not required.) (18.5 Marks) 2. Prepare the following accounts in the general ledger of Mururani Ltd: 0 Income tax payable (2.5 Marks) (1) Rundu Investment bank Ltd (2 Marks) (11) Application and allotment: Ordinary share (1.5 Marks) (iv) Ordinary share account (3 Marks) 3. Prepare extract of the Statement of Financial Position for Mururani Ltd as at 30 April 2021 only showing non-current liability (2.5 Marks)

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